Hyderabad IT firm Infotech acquires US-based Daxcon Engineering in all-cash deal

19 Jan 2010

1

Hyderabad-based Infotech Enterprises, has acquired Illinois, US based -based Daxcon Engineering Inc for an undisclosed sum in an all-cash deal. Infotech provides engineering design, geospatial information and information technology (IT) services.

According to B V R Mohan Reddy, CMD, Infotech, Daxcon specialising in off-road heavy engineering and aerospace sectors, would bring eight large customers to Infotech, including Caterpillar, Terex and Boeing.

He added that the company's 150 local resources would be critical to Infotech's success.

Daxcon posted revenues of $21 million (approximately Rs97 crore) in 2008. It had suffered a setback with the economic meltdown in 2009.

The company's current revenue stands at $14 million (Rs 65 crore).

''With the economies in the US and Europe recovering, we expect Daxcon to start gaining momentum in the next couple of quarters,'' Reddy said.

Business History Videos

History of hovercraft Part 3 | Industry study | Business History

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2 | Industry study | Business History

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1 | Industry study | Business History

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | Industry study | Business History

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more
View details about the software product Informachine News Trackers